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Jul 16, 2009
07/09
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and a more enronment capable of doing re for the students. for one, we've powered enormous resourceinto financial aid. probably mos important complishment with thos resources has been to make yale affordable for every family. >> charlie: anybo could get in yale coul get an edution fr. >> not free, no no. well in our music school yes but the coege, anyone, an family with incom under $60,000 goes for free. families within say the 60 to $200,000 ran get ver substantial nancial aid. so the average family that recees financial aid pays less than $1000. >> charlie: if you're the boast brilliant d in the world and you're father a billionaire, you get no aid. >> tt's right. no merit aid. >> charlie: just taking it away from someone else. >> exactly. it's entirelyistributed on financial need. so you pay theull $47,500 if your parents can afford it. >> charlie: 47,5 is what it costs to yal for a year. >> yes,toes. >> charlie 47,5. >> even the families are paying that 47,5 whi is a lot of moy are only paying about half of the st of yaleducation. >> chai
and a more enronment capable of doing re for the students. for one, we've powered enormous resourceinto financial aid. probably mos important complishment with thos resources has been to make yale affordable for every family. >> charlie: anybo could get in yale coul get an edution fr. >> not free, no no. well in our music school yes but the coege, anyone, an family with incom under $60,000 goes for free. families within say the 60 to $200,000 ran get ver substantial nancial aid. so...
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Jul 30, 2009
07/09
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HLN
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he was convicted of fraud in connection with the collapse of enron. a new date for the hearing has not been set. >>> we're all feeling the pinch with the shaky economy. hln money expert clark howard is here to help you. logon to cnn.com/clark. when you do that you can submit your i-report and you might be selected to be profiled on our network and then you can get some valuable advice from america's money coach. >>> a passenger claims he saw a child driving a new york subway train. hear his story and find out how the transit system is responding. @@@@@@@@@@@@@@@@@@@@@ >>> in the aftermath of the cambridge police controversy in massachusetts, a boston cop sends out an e-mail that includes a racial slur. what the officer wrote and how he and his attorney are responding. >>> a baby cut from her mother's womb is found alive. and the woman suspected of killing her has been arrested. >>> the terms 69 custody deal for michael jackson's kids. and the possibility that michael had a love child. >>> hi, everybody, and welcome. i'm chuck roberts. >>> breaking new
he was convicted of fraud in connection with the collapse of enron. a new date for the hearing has not been set. >>> we're all feeling the pinch with the shaky economy. hln money expert clark howard is here to help you. logon to cnn.com/clark. when you do that you can submit your i-report and you might be selected to be profiled on our network and then you can get some valuable advice from america's money coach. >>> a passenger claims he saw a child driving a new york subway...
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Jul 15, 2009
07/09
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FOXNEWS
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enron. enron did that. bill: ok. now, i think we laid it out so that even the "new york times" could understand it. this is a huge con. i will say i believe in global warming. i think the earth is getting warmer. that's what the stats say. we have researched that. there is no doubt. however, if mexico and china and india say no, we are going to do exactly what we do. even though we cut back. that's not going to matter. they live on the same planet. >> it doesn't matter. the president was in italy last week. did he not have the support of china, india. bill: they said forget it? >> this is all for nothing. cap and trade will pass a watered down version. bill: i don't think it will pass. >> i actually do. it will be watered down. 85% of these emission standards are these coupons. whatever you want to call them. give it away. and exchange traded and goldman sachs and everybody else can make money off of it and why shouldn't they? somebody is going to have to make cash. >> we are in the middle of a very nasty recession.
enron. enron did that. bill: ok. now, i think we laid it out so that even the "new york times" could understand it. this is a huge con. i will say i believe in global warming. i think the earth is getting warmer. that's what the stats say. we have researched that. there is no doubt. however, if mexico and china and india say no, we are going to do exactly what we do. even though we cut back. that's not going to matter. they live on the same planet. >> it doesn't matter. the...
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Jul 24, 2009
07/09
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WBAL
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rounds to enron three are on friday night. the remainder will play on saturday. the former atlanta falcons quarterback michael vick house learned when he will return to the nfl. he will be suspended for the first four games if pecan find a team to sign him. in less than a week, the minnesota vikings report to training camp, and the vikings still do not know if brett farr of -- brett favre will join them. he has to decide whether to come out of retirement again. he has evolved into the new face of football in leases and terry and most lawyers will tell you football does not usually smile on -- he has evolved into the new face of football and indecision. most players will tell you football does not usually smile on that. end roethlisberger looked both uncomfortable and upset, reading a statement. a nevada woman claims he raped her in the penthouse of a casino hotel last summer. he denies there accusations. the woman never filed legal charges against the steelers quarterback, saying she feared she would lose her job if she did go. -- did go to the police. >> her fal
rounds to enron three are on friday night. the remainder will play on saturday. the former atlanta falcons quarterback michael vick house learned when he will return to the nfl. he will be suspended for the first four games if pecan find a team to sign him. in less than a week, the minnesota vikings report to training camp, and the vikings still do not know if brett farr of -- brett favre will join them. he has to decide whether to come out of retirement again. he has evolved into the new face...
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Jul 15, 2009
07/09
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enron. enron did that. bill: ok. now, i think we laid it out so that even the "new york times" could understand it. this is a huge con. i will say i believe in global warming. i think the earth is getting warmer. that's what the stats say. we have researched that. there is no doubt. however, if mexico and china and india say no, we are going to do exactly what we do. even though we cut back. that's not going to matter. they live on the same planet. >> it doesn't matter. the president was in italy last week. did he not have the support of china, india. bill: they said forget it? >> this is all for nothing. cap and trade will pass a watered down version. bill: i don't think it will pass. >> i actually do. it will be watered down. 85% of these emission standards are these coupons. whatever you want to call them. give it away. and exchange traded and goldman sachs and everybody else can make money off of it and why shouldn't they? somebody is going to have to make cash. >> we are in the middle of a very nasty recession.
enron. enron did that. bill: ok. now, i think we laid it out so that even the "new york times" could understand it. this is a huge con. i will say i believe in global warming. i think the earth is getting warmer. that's what the stats say. we have researched that. there is no doubt. however, if mexico and china and india say no, we are going to do exactly what we do. even though we cut back. that's not going to matter. they live on the same planet. >> it doesn't matter. the...
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Jul 13, 2009
07/09
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CNBC
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you can use any stock in the world, including enron and as long as you have a stop loss -- >> what about transaction costs? >> can i tell you something? >> barron's magazine once again, that long-run adage, you can't trade your way. you cannot do it. >> if you held on -- >> after taxes and after transaction costs. >> that's right. but if you held on to enron and world com and lehman's, and held on, you don't have to pay capital gains. >> jeremy segal, what's your response to that? >> well, i think if you do trailing stop losses, let me tell you in a volatile market, you're stopped out of 90% of your stocks at the low. >> which is terrific when it's up 50% in a volatile stock market like we've had. >> not in normal markets, it's very hard to do that. and transactions -- >> 90% of your stock. the normal market's 20% is plenty of room for blue chips. >> jeremy segal, could we be on the verge of a major long run sell off in treasury bonds here? >> i think treasury bonds are the toxic assets of the next decade. >> let me ask you. could we be on the verge -- this appeals to me the most, becaus
you can use any stock in the world, including enron and as long as you have a stop loss -- >> what about transaction costs? >> can i tell you something? >> barron's magazine once again, that long-run adage, you can't trade your way. you cannot do it. >> if you held on -- >> after taxes and after transaction costs. >> that's right. but if you held on to enron and world com and lehman's, and held on, you don't have to pay capital gains. >> jeremy segal,...
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Jul 22, 2009
07/09
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CSPAN2
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. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail is an enormous problem. if we don't do anything else we need to solve that problem. this is critical because it would mean creditors would take losses if there are resolution costs the presumption is they would be paid by assessments on the other financial companies. >> with the republicans have proposed our financial services regulatory reform proposal includes an expedited bankruptcy within the bankruptcy code and i would ask you to particular attention to that. one thing that i am also concerned about is even having the financial system take those losses or the taxpayers and i would hope that we would preserve a true if
. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail...
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Jul 30, 2009
07/09
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MSNBC
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you have ceos and i read about them what happened in 2003 with enron and worldcom and then what's happened in the last year or so, who basically drive their companies into the ground and in the process become phenomenally rich themselves. that was not what was intended by capitalists. >> so we're now going to transform new the secretary of the treasury. you are presiding over what hank paulson and george bush saw a year ago. what do you do about it? you have a company like aig, which is $185 billion, has $185 billion of taxpayers' money. do you let them fail? because if you do, you know what the consequences are. >> no. i would not have let them fail but i would have driven a very hard bargain. i would have attached many strings which would have included breaking up the company so it's no longer too big to fail which it continues to be and i would have definitely driven a very hard bargain when it came to paying back the counterparties. we gave a hundred cents to the dollar so that's why goldman sachs for example ended up getting $12 billion from the government. so when goldman sachs comes
you have ceos and i read about them what happened in 2003 with enron and worldcom and then what's happened in the last year or so, who basically drive their companies into the ground and in the process become phenomenally rich themselves. that was not what was intended by capitalists. >> so we're now going to transform new the secretary of the treasury. you are presiding over what hank paulson and george bush saw a year ago. what do you do about it? you have a company like aig, which is...
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Jul 22, 2009
07/09
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on-proliferation to the environmen but she ran into uneectedly strong public resistae on climate change from ind's enronment minister. >> india's position is i would like to make clear and categorica- india's position is that we are simply t in a position to take on legly biding emission reduction targets. >> reporter: develong cotries like india don't want to be forcedo slow growth inzq the name of reducing emsions. clinton sough to ease those ncerns. >> the unitedtates does not and will not do athing that wld limit india's economic ogress. >> reporter: during three ds imumbai, secretary clinton also met with a broadrray of women's, business and civ groups. and in sign of solidarity with india, herhoice of hel was the taj mal in mumbai-- target f last november's bloody terrorist attack. >> warne for more, we get two views. michael green was seni director for ian affairs on the nationasecurity council staff during the bus administration. he's now wi the center for strateg and international studies, a waington think tank, and an asciate professor at georgeto university. and trudy rubin is aoreign affairs cum
on-proliferation to the environmen but she ran into uneectedly strong public resistae on climate change from ind's enronment minister. >> india's position is i would like to make clear and categorica- india's position is that we are simply t in a position to take on legly biding emission reduction targets. >> reporter: develong cotries like india don't want to be forcedo slow growth inzq the name of reducing emsions. clinton sough to ease those ncerns. >> the unitedtates does...
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Jul 11, 2009
07/09
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the pensions leaning too far is nothing new, back in the days of the ipo's or the enron worldcom situations where we-- nobody wants stocks anymore or the irriegsal exuberance of the stock market. right now, it's moved too far and the banks have a lot on their plates right now, julie. they've got a lot of properties that they foreclosed on, they need to work through to sell, they have a lot of problems with mortgages already on their books. >> julie: yeah. >> weather that's modification or some other way to work through that and they've got capital positions that are not what they've historically been. they've got crushed stock prices for bad earnings and i think right now, as they work through these things, any new risk they take on, julie, they're going to run pretty tough screens on it. unfortunately, for many americans looking to take advantage of cheap home prices, that's the catch 22. now, the prices are great, but you can't buy. >> julie: mortgage lenders like you point out are facing serious issues like the large amount of mortgages on their books that are delinquent or in default an
the pensions leaning too far is nothing new, back in the days of the ipo's or the enron worldcom situations where we-- nobody wants stocks anymore or the irriegsal exuberance of the stock market. right now, it's moved too far and the banks have a lot on their plates right now, julie. they've got a lot of properties that they foreclosed on, they need to work through to sell, they have a lot of problems with mortgages already on their books. >> julie: yeah. >> weather that's...
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Jul 11, 2009
07/09
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that post enron crackdown that passed congress in 48 hours, it contained questionable measures that languished in congress unapproved for five years and businesses are still hurting from it. small companies spend a lot of their profit growth on new accountants, big companies take their new stock listings to exchanges overseas and sarbanesoxley did nothing to stop the new countdown, one congress is using for a new round of photo ops. it's photo overtime. we start with this picture, the got ya shown around the world. it appears to show president obama eyeing the derriere of a 16-year-old. it seems niclolas sarkozy is getting an eyul aswell. jasowith the "huffington post" and tika is the founder of tycoon publications, what do you think. >> i think the president is getting a bum rap. his picture was taken out of context. when you look at the video, it's a very different image than the photograph, the still photograph really has niclolas sarkozy, th president of france sort of staring at this young girl with a weird expression on his face and the president got tarred and feathered by the same brus
that post enron crackdown that passed congress in 48 hours, it contained questionable measures that languished in congress unapproved for five years and businesses are still hurting from it. small companies spend a lot of their profit growth on new accountants, big companies take their new stock listings to exchanges overseas and sarbanesoxley did nothing to stop the new countdown, one congress is using for a new round of photo ops. it's photo overtime. we start with this picture, the got ya...
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Jul 2, 2009
07/09
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is one of the one we can see and for every enron i can show a state regulator that put somebody to jail, jr t the best example i can think of but to start from scratch this epoxy is going to solve all these problems and i think it is an unrealistic expectation i'm not saying there are all good people that work for government. i'm saying the level of expertise required that the person could have his own independent evaluation for the rest of the world and maybe serve a greater good than trying to have the government do it and there is nothing wrong, certainly nothing wrong with having a database. we talked about that and thought about that before that if you have a derivative, you filed a derivative and list every component and put back on the index you can get online and everybody can see online for transparency but then of course the word is we are registered with this implied value to that unwary consumer that we are looking now for my not understand. thank you, i think you gave me extra time and i appreciate that. >> mr. chairman, if i might comment, esters posey's comment on reinsur
is one of the one we can see and for every enron i can show a state regulator that put somebody to jail, jr t the best example i can think of but to start from scratch this epoxy is going to solve all these problems and i think it is an unrealistic expectation i'm not saying there are all good people that work for government. i'm saying the level of expertise required that the person could have his own independent evaluation for the rest of the world and maybe serve a greater good than trying...
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Jul 11, 2009
07/09
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deatirivatives because they can protect against risk, they can lower costs, but as we saw with, i guess, enron, as a great example, they can take both dealers and investors down. and when that happens, i would like some assurance that the taxpayers are not going to ultimately be the ones who assume that risk. that's not what we ought to be about. last september, leading up to last september, a lot of people made investments. they wrote over the counter derivatives. they made billions of dollars. profits on the way up. but when things turned down, who was asked to come in and backstop them? who was asked to take the risk, to suffer the loss. it was the taxpayer. now i personally believe that we ought to allow corporations to continue to write customized derivatives and that, yes, the government can look at them, but i -- another thing that we ought to consider is the government the best party to judge risk? and i say no. i think the government has a very poor track record, regulators, of identifying risk. are we going to leave when we start having standardized trading of over-the-counter deriva
deatirivatives because they can protect against risk, they can lower costs, but as we saw with, i guess, enron, as a great example, they can take both dealers and investors down. and when that happens, i would like some assurance that the taxpayers are not going to ultimately be the ones who assume that risk. that's not what we ought to be about. last september, leading up to last september, a lot of people made investments. they wrote over the counter derivatives. they made billions of...
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Jul 30, 2009
07/09
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HLN
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he's never had a trial. >>> at 3:00 p.m., the enron appeal is scheduled. en appeals court tossed out an earlier appeal of 24 years. >>> they stepped in for a guy in a horrible wreck last weekend. here's rafer. >> we talk about guys coming out refuse tirmt, but this had a different feel to it. felipe massa is still hospitalized after hitting that tire at full speed. michael shchumaker is coming to take massa's place on the team. his first place could come sunday on the european grand prix. a lot of people are looking forward to seeing that. >>> michael vick may be able to return a football, but not a lot of you are excited about it. a-rod was number three, followed by terrell owens and kobe bryant. the big surprise was john mcenroe at number 10. he retired years ago. what do you think about this and why? start your text with robin's name so it gets to us or e-mail us. jack texted, i dislike brett favre. he has played the attention game as much as he has football during his long, drawn-out retirement. he lost my respect. meanwhile, an anonymous viewer texted
he's never had a trial. >>> at 3:00 p.m., the enron appeal is scheduled. en appeals court tossed out an earlier appeal of 24 years. >>> they stepped in for a guy in a horrible wreck last weekend. here's rafer. >> we talk about guys coming out refuse tirmt, but this had a different feel to it. felipe massa is still hospitalized after hitting that tire at full speed. michael shchumaker is coming to take massa's place on the team. his first place could come sunday on the...
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Jul 22, 2009
07/09
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but i would urge you to look at the enron situation and think about the kind of staff you might high year in the additional authority is you've been given. >> it's funny you mention that because we recently brought on -- i prosecuted the refco matter and we are bringing on world. >> bill black of missouri, kansas city, he had worked for the commodity futures corporation back in the early 90's, i don't believe he is for higher but his way of thinking about what went on is very useful and i wish to share that with you. i also want -- to put two issues out. one is warrants, and my deep concern about for instance goldman sachs and their warrant, it is my understanding that the american people have the right to 12.2 million shares of gold according to the numbers i have come and gold and actually has the privilege under the agreement determining when the tax payers have to sell those warrants, so they control the price and timing and i think it's really important of the war -- warrant that you examine these warrant potentials and the timing for the american people because the other day th
but i would urge you to look at the enron situation and think about the kind of staff you might high year in the additional authority is you've been given. >> it's funny you mention that because we recently brought on -- i prosecuted the refco matter and we are bringing on world. >> bill black of missouri, kansas city, he had worked for the commodity futures corporation back in the early 90's, i don't believe he is for higher but his way of thinking about what went on is very useful...
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Jul 26, 2009
07/09
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. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail is an enormous problem. if we don't do anything else we need to solve that problem. this is critical because it would mean creditors would take losses if there are resolution costs the presumption is they would be paid by assessments on the other financial companies. >> with the republicans have proposed our financial services regulatory reform proposal includes an expedited bankruptcy within the bankruptcy code and i would ask you to particular attention to that. one thing that i am also concerned about is even having the financial system take those losses or the taxpayers and i would hope that we would preserve a true if
. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail...
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461
Jul 24, 2009
07/09
by
CNBC
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. >> after enron, what a concept, you know, to consider off balance sheet, item might affect on balance sheet. >> no risk, apparently. >> yeah, yeah. could be a problem. >> rebecca, you're right. this morning not quite the frenzy that we saw yesterday. just take earnings of 5 cents ahead of expectations, but the oil field service company, again, suffering from a decline in north american drilling activity. company says drilling in the u.s. and canada reached a five-year low. and they reiterated it does not expect a recovery before next year. kind of what we heard from halliburton earlier in the week as well. >> on the morning show, you not only have to do the stuff that happens before that morning but also anything after 4:00, it's fair game and it's ours. a few stock that did report after the bell yesterday, the big one, the granddaddy of them all, the granddaddy of all tech, microsoft reporting earnings per share that were two cents below expectations. a dropoff of global pc sales weighed on both revenue and profits. also, profits negatively impacted by charges relating to its forthco
. >> after enron, what a concept, you know, to consider off balance sheet, item might affect on balance sheet. >> no risk, apparently. >> yeah, yeah. could be a problem. >> rebecca, you're right. this morning not quite the frenzy that we saw yesterday. just take earnings of 5 cents ahead of expectations, but the oil field service company, again, suffering from a decline in north american drilling activity. company says drilling in the u.s. and canada reached a five-year...
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perhaps the columbus circle station or enron time square. you never know where this could end up. >> and in brooklyn of all places where they like to be independent and free from the commercialism. we're going to staples center, right? every single arena is -- >> or the nokia center across the street. >> richard doesn't look too happy about it at all. all right, richard. >> well, it could get confusing. >> at least they're not renaming the united nations any time soon. as far as we know. >> reporter: you never know. wellbeing. we're all striving for it. purina cat chow helps you nurture it in your cat with a full family of excellent nutrition and helpful resources. purina cat chow. share a better life. the gold delta skymiles credit card... from american express... it's the official card... largest airline. of the world's and it's the only credit card... that earns miles on delta. miles that take you... to more places than ever before. over 350 destinations worldwide. so switch today. get up to 25,000 bonus miles-- good for a free flight. ca
perhaps the columbus circle station or enron time square. you never know where this could end up. >> and in brooklyn of all places where they like to be independent and free from the commercialism. we're going to staples center, right? every single arena is -- >> or the nokia center across the street. >> richard doesn't look too happy about it at all. all right, richard. >> well, it could get confusing. >> at least they're not renaming the united nations any time...
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133
Jul 22, 2009
07/09
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. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail is an enormous problem. if we don't do anything else we need to solve that problem. this is critical because it would mean creditors would take losses if there are resolution costs the presumption is they would be paid by assessments on the other financial companies. >> with the republicans have proposed our financial services regulatory reform proposal includes an expedited bankruptcy within the bankruptcy code and i would ask you to particular attention to that. one thing that i am also concerned about is even having the financial system take those losses or the taxpayers and i would hope that we would preserve a true if
. >> enron, world,, drexel works very well, the bankruptcy regime and do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely otherwise you have it too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? you wouldn't be asking taxpayers to guarantee or backstop losses. >> absolutely. too big to fail...
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212
Jul 23, 2009
07/09
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how come our previous administration can lose 3 or 4 years of e-mails, looking back at enron and the energy crisis we are in. why do we have access to this information? what were they talking about? you look at american enterprise institute's web page, they actually brag that one of their decisions trumps g.e.'s staff. it is a brag. go look at it. host: next is houston, open phones, democrats. go ahead, houston. caller: good morning. thank you, susan, for taking my call. host: sure. caller: you mentioned briefly something about the henry louis gates, jr. host: yes, we had a question on it earlier in the program. caller: i have yet to get the full story as to what really transpired with the incident with the police department there in cambridge. i'm surprised to know -- i don't know what size cambridge, massachusetts is. they have the harvard college there, but i'm surprised that there wasn't anything said about
how come our previous administration can lose 3 or 4 years of e-mails, looking back at enron and the energy crisis we are in. why do we have access to this information? what were they talking about? you look at american enterprise institute's web page, they actually brag that one of their decisions trumps g.e.'s staff. it is a brag. go look at it. host: next is houston, open phones, democrats. go ahead, houston. caller: good morning. thank you, susan, for taking my call. host: sure. caller: you...
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Jul 21, 2009
07/09
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CNBC
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if it you did the auditing of the company, you were no longer in the wake of the enron scandal allowed to do consulting as well. tougher rules for the agencies. >> the s.e.c. would have powers to regulate the industry, according to reuters, and this happens when they go rating shopping, looking for another company to rate them. so that would be something that i think would be of interest to creditors. >> because they would be looking for a better -- rating. yes. let's get back to capitol hill, where ben bernanke continues his testimony. >> and i understand truly. i heard people say there are signs of stabilization. you didn't mention that you think there has been a peak in unemployment. i guess a peak has gone from 680,000 a month down to $500,000 a month, we're losing jobs. that's significant, and i think as time goes on, you're going to lose fewer and fewer jobs each month, because fewer and fewer people are able to be laid off. but we've gone from the subprime debacle, and it seems like now we're going through a second round in the residential. and that's individuals who had good lo
if it you did the auditing of the company, you were no longer in the wake of the enron scandal allowed to do consulting as well. tougher rules for the agencies. >> the s.e.c. would have powers to regulate the industry, according to reuters, and this happens when they go rating shopping, looking for another company to rate them. so that would be something that i think would be of interest to creditors. >> because they would be looking for a better -- rating. yes. let's get back to...
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Jul 21, 2009
07/09
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CNBC
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. >> you know, enron, worldsocom, drexel, worked very well, the bankruptcy regime. do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely. otherwise you ever a too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? i mean you would not be asking taxpayers to guarantee or back stop losses? >> absolutely. i think too big to fail is an enormous problem, if we don't do anything else, we need to solve that problem. this is a critical element in solving it because it means that creditors would take losses f there are resolution costs, the presumption is they would be paid by assessments by other financial companies. >> republicans have proposed our financial services regulatory reform proposals includes an expedited bankruptcy within the bankruptcy code. and i would ask you to pay a particular attention to that. one thing that i'm also concerned about is even having the financial system take those
. >> you know, enron, worldsocom, drexel, worked very well, the bankruptcy regime. do you agree that it's very important that you force creditors to internalize the cost of their credit decisions? >> absolutely. otherwise you ever a too big to fail institution which doesn't have any discipline other than the regulatory oversight. >> so this regime would totally reject the too big to fail? i mean you would not be asking taxpayers to guarantee or back stop losses? >>...
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Jul 7, 2009
07/09
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but many americans worry it will turn out to be an enron-style financial scheme where wall street manipulators make giant profits while ratepayers, motorists and main street businesses pay greatly increased costs. environmentalists rightly worry about the assumed large scale use of international offsets, and they are not verifiable. others say that foreign offsets claimed by c.b.o. to reduce the price of allowances by 70%, but that's highly questionable. to me a particular scary future the tax and trade tax regime is that anyone can purchase emissions, permits or credits. there is nothing to stop a large government like china from investing heavily in co-2 emission permits instead of u.s. treasuries. the effective course would be that u.s. located industries could not buy those permits or they would have to pay a much higher price for the permits, thereby making our businesses even less competitive with foreign manufacturers like those in china. market manipulation by speculators are bad enough, driving up demand and prices by foreign competitors is -- be closed by saying that the right energy
but many americans worry it will turn out to be an enron-style financial scheme where wall street manipulators make giant profits while ratepayers, motorists and main street businesses pay greatly increased costs. environmentalists rightly worry about the assumed large scale use of international offsets, and they are not verifiable. others say that foreign offsets claimed by c.b.o. to reduce the price of allowances by 70%, but that's highly questionable. to me a particular scary future the tax...
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Jul 22, 2009
07/09
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CSPAN2
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but i would urge you to look at the enron situation and think about the kind of staff you might high year in the additional authority is you've been given. >> it's funny you mention that because we recently brought on -- i prosecuted the refco matter and we are bringing on world. >> bill black of missouri, kansas city, he had worked for the commodity futures corporation back in the early 90's, i don't believe he is for higher but his way of thinking about what went on is very useful and i wish to share that with you. i also want -- to put two issues out. one is warrants, and my deep concern about for instance goldman sachs and their warrant, it is my understanding that the american people have the right to 12.2 million shares of gold according to the numbers i have come and gold and actually has the privilege under the agreement determining when the tax payers have to sell those warrants, so they control the price and timing and i think it's really important of the war -- warrant that you examine these warrant potentials and the timing for the american people because the other day th
but i would urge you to look at the enron situation and think about the kind of staff you might high year in the additional authority is you've been given. >> it's funny you mention that because we recently brought on -- i prosecuted the refco matter and we are bringing on world. >> bill black of missouri, kansas city, he had worked for the commodity futures corporation back in the early 90's, i don't believe he is for higher but his way of thinking about what went on is very useful...
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Jul 11, 2009
07/09
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but many americans worry it will turn out to be an enron-style financial scheme where wall street manipulators make giant profits while ratepayers, motorists and main street businesses pay greatly increased costs. environmentalists rightly worry about the assumed large scale use of international offsets, and they are not verifiable. others say that foreign offsets claimed by c.b.o. to reduce the price of allowances by 70%, but that's highly questionable. to me a particular scary future the tax and trade tax regime is that anyone can purchase emissions, permits or credits. there is nothing to stop a large government like china from investing heavily in co-2 emission permits instead of u.s. treasuries. the effective course would be that u.s. located industries could not buy those permits or they would have to pay a much higher price for the permits, thereby making our businesses even less competitive with foreign manufacturers like those in china. market manipulation by speculators are bad enough, driving up demand and prices by foreign competitors is -- be closed by saying that the right energy
but many americans worry it will turn out to be an enron-style financial scheme where wall street manipulators make giant profits while ratepayers, motorists and main street businesses pay greatly increased costs. environmentalists rightly worry about the assumed large scale use of international offsets, and they are not verifiable. others say that foreign offsets claimed by c.b.o. to reduce the price of allowances by 70%, but that's highly questionable. to me a particular scary future the tax...
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Jul 17, 2009
07/09
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, which has to do with the appointment power to the accounting board that congress set up after the enron scandal. there also is going to be a very early test for judge sotomayor when the court takes up what -- the briscoe case from virginia, and in essence the court is, i think, going to be re-examining a decision of just this term of the melon dez dee as case in which the court said if the prosecution in a criminal case wants to put in evidence a lab report, the confrontation clause requires that the chemist who prepared it be made available for cross-examination during the case. the vote was 5-4, and one of the five in the majority was justice souter, who is obviously retiring and will be replaced by justice, one suspects, sotomayor. she is, i think, more prosecution oriented than justice souter was, and i think there is a chance that the court, if it's willing to be somewhat embarrassingly bold, it may actually cast aside melendez dee as and start over in that area of the law. bob had mentioned cameras in the court there. is no real prospect, whatever arlen specter thinks to the contr
, which has to do with the appointment power to the accounting board that congress set up after the enron scandal. there also is going to be a very early test for judge sotomayor when the court takes up what -- the briscoe case from virginia, and in essence the court is, i think, going to be re-examining a decision of just this term of the melon dez dee as case in which the court said if the prosecution in a criminal case wants to put in evidence a lab report, the confrontation clause requires...
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Jul 19, 2009
07/09
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when this company experienced enron there was outrage from coast to coast, people that were not informed about the material things that were happening and not happening within that company. because the shareholders were left in the dark. my concern is the lack of transparency to the shareholders and to the public at large, not only as investors but as investors -- as shareholders, if you will, being the taxpayers of this country. so the question i have, i want to follow up on mr. jordan's question, a little deeper into why you did not get a little agencies. for example, the s.e.c., why didn't you feel compelled to share information with them? >> first of all, we were working with the regulators that were involved in putting the financial assistance together. that was the effort. but the responsibility, it is not a treasury secretary's job to get between a compp -- company and the s.e.c., for instance. i've been around long enough to know these are critically important decisions, and that's the responsibility of a c.e.o. working with his general counsel and with the regulator. >> but you
when this company experienced enron there was outrage from coast to coast, people that were not informed about the material things that were happening and not happening within that company. because the shareholders were left in the dark. my concern is the lack of transparency to the shareholders and to the public at large, not only as investors but as investors -- as shareholders, if you will, being the taxpayers of this country. so the question i have, i want to follow up on mr. jordan's...
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so think about the enron debacle, worldcom, in the past, ivan boesky, these are all people who hired prison consultants. those are the big names. but anytime there are people who are rich who end up in jail, they absolutely don't know the rules of what prison is like. it is such a huge change for them, they want to know -- you know, what do you do? how do you survive in there. so they'll go out and hire these prison consultants, who often have been to prison themselves, but say they are reformed and can sort of help and tell you what's going on. "the times" of london reports that madoff has now hired a consultant because he got the maximum, because he got those 150 years, there's no hope that he's going to be in some kind of a low-security facility. he's going to be in with violent offenders, murders and rapists. prison consultants who say that madoff could even end up incarcerated with terrorists, could end up with in super max in colorado. what they say from talking to people who work in the prisons, is that probably they'll put him in solitary for a long time for his own safety. b
so think about the enron debacle, worldcom, in the past, ivan boesky, these are all people who hired prison consultants. those are the big names. but anytime there are people who are rich who end up in jail, they absolutely don't know the rules of what prison is like. it is such a huge change for them, they want to know -- you know, what do you do? how do you survive in there. so they'll go out and hire these prison consultants, who often have been to prison themselves, but say they are...
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Jul 12, 2009
07/09
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deatirivatives because they can protect against risk, they can lower costs, but as we saw with, i guess, enron, as a great example, they can take both dealers and investors down. and when that happens, i would like some assurance that the taxpayers are not going to ultimately be the ones who assume that risk. that's not what we ought to be about. last september, leading up to last september, a lot of people made investments. they wrote over the counter derivatives. they made billions of dollars. profits on the way up. but when things turned down, who was asked to come in and backstop them? who was asked to take the risk, to suffer the loss. it was the taxpayer. now i personally believe that we ought to allow corporations to continue to write customized derivatives and that, yes, the government can look at them, but i -- another thing that we ought to consider is the government the best party to judge risk? and i say no. i think the government has a very poor track record, regulators, of identifying risk. are we going to leave when we start having standardized trading of over-the-counter deriva
deatirivatives because they can protect against risk, they can lower costs, but as we saw with, i guess, enron, as a great example, they can take both dealers and investors down. and when that happens, i would like some assurance that the taxpayers are not going to ultimately be the ones who assume that risk. that's not what we ought to be about. last september, leading up to last september, a lot of people made investments. they wrote over the counter derivatives. they made billions of...
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Jul 29, 2009
07/09
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MSNBC
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you made about it's the same thing all over again, except on such a more monumental scale, because enron and worldcom were dealing with billions of shareholder work and citigroup and goldman and bank of america and aig are dealing with trillions of taxpayer money. >> well, and taxpayers who we're seeing, some of them, at least, some of the hardest times in generations. >> absolutely. that's really the opportunity cost of what we're doing. if you look at the fact that states all across america are carti cutting sbined debt is 1$166 billion. we gave aig $80 billion. >> should we have not bailed out goldman sachs? >> i think we should be breaking them up, actually we forming the system. it will happen again. there is no doubt. it will happen again. and it will happen again faster. >> it's not a prediction. >> jonathan capehart has a question for you. >> hi, jonathan. >> hi. do you think the executive pay will have impact on how these banks operate or is this just of window dressing to placate a very angry public. >> it starts as window dressing. putting an ad of too big to fail. unless we d
you made about it's the same thing all over again, except on such a more monumental scale, because enron and worldcom were dealing with billions of shareholder work and citigroup and goldman and bank of america and aig are dealing with trillions of taxpayer money. >> well, and taxpayers who we're seeing, some of them, at least, some of the hardest times in generations. >> absolutely. that's really the opportunity cost of what we're doing. if you look at the fact that states all...
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Jul 7, 2009
07/09
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this on as an enron against prior establishment clause cases that had approved the public display of 10 commandments monuments, they thought those cases have already approved a sort of a rite of singular or preferred access to the 10 commandments, not equal access everyone gets to put up a monument and i think they were worried as a practical matter if we won this case cities would take down the 10 commandments on as before there and open their cars to a bunch of other crazy religious monuments. on the other hand, is justices were very aware as with the liberal justices that once you paul and arguably religious monument government speech you may get much more amenable to the establishment clause challenge and i think what is most interesting about the opinion in this case is how justice alito was the author of the opinion try to thread that neil, to call the monument government speech which in -- immunized from our free-speech claim that at the same time try to minimize the establishment clause exposure, sort of that kind of monument. and again in this shadow establishment clause are
this on as an enron against prior establishment clause cases that had approved the public display of 10 commandments monuments, they thought those cases have already approved a sort of a rite of singular or preferred access to the 10 commandments, not equal access everyone gets to put up a monument and i think they were worried as a practical matter if we won this case cities would take down the 10 commandments on as before there and open their cars to a bunch of other crazy religious...
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Jul 21, 2009
07/09
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, which has to do with the appointment power to the accounting board that congress set up after the enron scandal. there also is going to be a very early test for judge sotomayor when the court takes up what -- the briscoe case from virginia, and in essence the court is, i think, going to be re-examining a decision of just this term of the melon dez dee as case in which the court said if the prosecution in a criminal case wants to put in evidence a lab report, the confrontation clause requires that the chemist who prepared it be made available for cross-examination during the case. the vote was 5-4, and one of the five in the majority was justice souter, who is obviously retiring and will be replaced by justice, one suspects, sotomayor. she is, i think, more prosecution oriented than justice souter was, and i think there is a chance that the court, if it's willing to be somewhat embarrassingly bold, it may actually cast aside melendez dee as and start over in that area of the law. bob had mentioned cameras in the court there. is no real prospect, whatever arlen specter thinks to the contr
, which has to do with the appointment power to the accounting board that congress set up after the enron scandal. there also is going to be a very early test for judge sotomayor when the court takes up what -- the briscoe case from virginia, and in essence the court is, i think, going to be re-examining a decision of just this term of the melon dez dee as case in which the court said if the prosecution in a criminal case wants to put in evidence a lab report, the confrontation clause requires...